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General Scoring Primer and Version 8 Master Thread, pub.5.17.20

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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@Chandler455 Yeah, as for raw dollar metrics, that's why the Primer says under study, we really don't know yet, we are just beginning to learn more about it, relatively. If we knew, it would be included already.

@AllZero Thank you for commenting. I revised the language to indicate there are unconfirmed reports of the 2 and 2.5 year thresholds. So, the info is there without being stated as fact, since its in dispute and needs confirmation testing.

@Revelate Did you say isolate accounts from revolvers? That would be awesome data. I also believe it's revolving, but would be great to know for sure.

Next, IDK how you could isolate new accounts from AAOA on a clean scorecard; seems impossible, unless you could cross the line without incurring reassignment (meaning already having a revolver under 12 months).

@Trudy Thank you for the kind words!
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 31 of 233
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Valued Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@Birdman7: I see that you got the TOC ok, so I'm deleting it from this post.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

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Message 32 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@Birdman7  I'll be doing my own testing when my AAoA reaches 2 years next month. I plan to apply for new accounts in the following month(s) which should take me under, then wait for it to go back over that threshold again. I'll keep you updated.

Message 33 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@AllZeroThat would be awesome, please keep me updated! Thanks!

 

@CassieCardYep, thanks to you I got it Cassie! Can't thank you enough!!

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 34 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@Birdman7. You mentioned scorecard assignment. Can you include known thresholds? For thick,thin, aged, etc.

Message 35 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20


@AllZero wrote:

@Birdman7. You mentioned scorecard assignment. Can you include known thresholds? For thick,thin, aged, etc.


@AllZero it's already there. See the quick reference chart at top which has the information. Or for detailed information, see sections A1, C1, D1 and E1.

 

The only one we know for sure is AOYRA. 12 months. There is debate as to the threshold for aged (most think between 10 and 15 years, but some have theorized much lower) and it is believed if you have 5 or 6 accounts it makes you thick. A 60 day late makes you dirty. It is unknown to me whether a certain number of 30 day lates will make you dirty.

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 36 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

Thank you. I completely missed it. 😝
Message 37 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

No problem at all, there is a lot there to absorb and I edited my last post to include the information as well.

It will probably take a couple readings to digest a lot of it. I tried to break it down to make it easier to understand by examining each of the five ingredient categories individually and sequentially.

Definitely open to corrections, comments, edits, or requests.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 38 of 233
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Frequent Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

I know I haven't been here long, but this thread is now officially my favorite. There is so much win in the research and datapoints in one spot. Amazing job. Wow! 

 

Message 39 of 233
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@TheKid2 Thank you! I am actually updating it now based on some info I just learned researching your situation. Occasionally you should probably scroll thru the first 8 posts and see if there is a recent update made and if so, read it again.

I'm far from flawless and am trying my best to correct any errors and add additional info.

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 40 of 233
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